What are my options?

lexrjSD · ‎01-28-2016

My Ink Plus AF is coming and I have almost 100K UR points, I'd like to close the card since the rewards do not offset the AF, what are my options besides transfering the points to a UR partner and closing the card? Can I PC to Ink Cash and move the points over?

takeshi74 · ‎01-28-2016

You can PC, if eligible. I don't recall the details but I wasn't able to PC when I first looked into it but several months down the road I was able to PC from Plus to Cash. May have had to do with the age of the account.

You don't need to move the points if you PC. The points will remain with the card's UR account. However, if you want to transfer the points to a travel partner you'll need to do so before you PC since the Cash cannot perform such transfers.

How do the rewards not offset the AF? Even if you redeem for cash which is not the best value, 100K UR points would be $1,000.

Anonymous · ‎01-28-2016

Because OP already has his 100K points and doesn't need to keep paying an AF :-)

lexrjSD · ‎01-28-2016

@Anonymous wrote:
Because OP already has his 100K points and doesn't need to keep paying an AF :-)

Exactly...

myjourney · ‎01-28-2016

@lexrjSD wrote:
My Ink Plus AF is coming and I have almost 100K UR points, I'd like to close the card since the rewards do not offset the AF, what are my options besides transfering the points to a UR partner and closing the card? Can I PC to Ink Cash and move the points over?

Interesting situation you have here

Options

Apply for CSP for another 50k points + your 100k=150k points and AF is waived 1st year

PC to Ink cash

Cancel and be done (bad idea)

Effects

PC to a Ink cash will result in a devaluation since now they'll have cash value unless you Transfer points before closing

If you cancel the card w/o moving points to a hotel or FF program you'll lose them all together

My opinion get the CSP and worry about that AF next year

That way you still have a higher value of the 100k points plus you add another 50k and still not pay an AF for a year

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

lexrjSD · ‎01-28-2016

@myjourney wrote:
@lexrjSD wrote:
My Ink Plus AF is coming and I have almost 100K UR points, I'd like to close the card since the rewards do not offset the AF, what are my options besides transfering the points to a UR partner and closing the card? Can I PC to Ink Cash and move the points over?
Interesting situation you have here
Options
Apply for CSP for another 50k points + your 100k=150k points and AF is waived 1st year
PC to Ink cash
Cancel and be done (bad idea)

Effects
PC to a Ink cash will result in a devaluation since now they'll have cash value unless you Transfer points before closing
If you cancel the card w/o moving points to a hotel or FF program you'll lose them all together

My opinion get the CSP and worry about that AF next year
That way you still have a higher value of the 100k points plus you add another 50k and still not pay an AF for a year

Thanks for the idea but it's not really a good option, I had the CSP 1.5yr ago (so no bonus for me) that was PCd to Slate, plus I would still be in the same situation next yr. I don't really want another pull for a card that I'm only keeping for 1yr and is not going to really solve my problem. I think I'm just going to either pay the AF or PC to Ink Cash. I did acumulate 40K UR within a yr of not much spending so the AF would be costing me about 25% of my yearly earned points, it's not great but considering the options I think it might the best one until I use most of the 100k.

myjourney · ‎01-28-2016

@lexrjSD wrote:
@myjourney wrote:
@lexrjSD wrote:
My Ink Plus AF is coming and I have almost 100K UR points, I'd like to close the card since the rewards do not offset the AF, what are my options besides transfering the points to a UR partner and closing the card? Can I PC to Ink Cash and move the points over?
Interesting situation you have here
Options
Apply for CSP for another 50k points + your 100k=150k points and AF is waived 1st year
PC to Ink cash
Cancel and be done (bad idea)

Effects
PC to a Ink cash will result in a devaluation since now they'll have cash value unless you Transfer points before closing
If you cancel the card w/o moving points to a hotel or FF program you'll lose them all together

My opinion get the CSP and worry about that AF next year
That way you still have a higher value of the 100k points plus you add another 50k and still not pay an AF for a year
Thanks for the idea but it's not really a good option, I had the CSP 1.5yr ago (so no bonus for me) that was PCd to Slate, plus I would still be in the same situation next yr. I don't really want another pull for a card that I'm only keeping for 1yr and is not going to really solve my problem. I think I'm just going to either pay the AF or PC to Ink Cash. I did acumulate 40K UR within a yr of not much spending so the AF would be costing me about 25% of my yearly earned points, it's not great but considering the options I think it might the best one until I use most of the 100k.

You are aware that in 7 months you can get the CSP again w/bonus?....Just putting it out there

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?